Sunday, August 17, 2008

Why are you not rich yet?

I have been thinking why am I still not rich yet. I am already 30 years old and I am still living every month by my paycheck.

So what is the reason that I am not rich yet?

- is it because I am lack of financial knowledge or education?

- is it because that my job is taking up most of my time?

- is it because I have a big family to support and I cant afford to lose my paycheck?

- is it because no opportunity?

There are some many reasons. What is the reason that are stopping you from getting rich then?

Leave some comment for discussion purpose and we will work it out to achieve our goal.


Sean Toh said...

We are brought up in an environment where people themselves do not put emphasis on financial and health education. Hence, the children grow up into adults lacking the essential education and lifeskills to succeed in this financial aspects of their lives!

Hi Sam,

It's my honor and pleasure being invited into your network. I believe we could learn a lot from each other and leverage on each other networks. Feel free to drop me a line and talk to me about your possible ideas to turn them into realization. Keep in touch and thanks for the invitation.

Yours Sincerely
Sean Toh
Author of “4 Steps To Financial Freedom”

Sam said...

I disagreed on saying people don't put emphasis on financial and health education. They lack of it as there isn't anyone out there who can provide them the education.

For my case, I grew up in a family who spend on every month paycheck and have no saving at all. Therefore, my family concentrate on making more money to survive.

As for myself, I have no idea that saving $100 every month from age 16 to 23 and putting it into a fix deposit of 2% and from age 23 till now, putting in $200 per month with 2% interest, I will have $30k plus saving now. That is excluding my bonus that I can use to save as well.

So people who read this blog, pls start to save from young age. Parents, pls teach your child to save.

nathan said...

the best advice i have received is to "pay yourself" first, take out money as soon as you get paid and stick in in a different place to your everyday account, you won't miss it and you can still fritter away the rest

Sam said...

Fully agreed that you should put aside part of your salary every month to another account first before paying for bill and spend on other thing.

But this need very good discipline in order to success

Anonymous said...

Hi, guys
Saving is immportant but you need to ask yourself how to make the big money? Ask yourself how can your $1 make into $10 in a short time frame. There are many financial books buy all theory, you need to find a mentor to learn from him

Sam said...

Well said. If you are able to make your $1 grow to $10 in the shortest time frame than you are making 1000% of profit. It will be best if you don't have to work for it.

Come on guys, its a good discussion. Pls continue.